Nordic Capital

Nordic Capital, the private equity firm that formerly owned Permobil, has bought Sunrise Medical. Nordic Captial, along with IK Investment Partners, was rumored to be in the running to buy Sunrise Medical from Equistone Partners, a European-based investment firm that bought the company from Vestar Capital Partners in 2012. Nordic Capital sold Permobil to Investor AB for $842.3 million in 2013, but it also owns Handicare, a Swedish-based manufacturer of wheelchairs, rollators, scooters, manual transfer aids and lifts. While Nordic Capital and Sunrise Medical did not disclose terms of the deal, its value could be close to $507 million, according to an article published in May by Reuters. Under Equistone’s ownership, Sunrise Medical has completed four add-on acquisitions, most recently Switch-It in March of 2015 and RGK Wheelchairs in April 2015. It’s a strategy that will continue under Nordic Capital. “This new partnership puts Sunrise Medical in a perfect position to significant grow the business over the coming years, organically and also by way of acquisitions,” stated Thomas Rossnagel, president and CEO of Sunrise Medical.